September 16, 2009
Posted by Adam King on September 16, 2009
September 16, 2009 – Growing spite towards the Obama administration by US citizens is wearing thin the White House’s should-be motto of “everything is going to be alright.” Certified gold investments, along with other commodities, are projected to overcome record high levels before the end of 2009. Certified gold and silver coins historically offer better profit potential than bullion bars and coins due to their numismatic value and government non-confiscatibility.
Only a year after the Lehman Brothers collapse that sparked America’s worst financial meltdown since the Great Depression, President Barack Obama and his administration are claiming that the worst of the fiscal mess is over. This provoked the ire of the growing number of Americans that are unemployed, losing wealth, and suffering from mortgage foreclosures. There are over 500,000 Americans per week who are filing initial first-time claims for unemployment benefits, and over 7 million jobs have been eliminated since Obama took office this year. The government is now trying to increase the Fed’s ability to oversee companies’ wheelings and dealings, while at the same time the AP reported on Monday that companies like JP Morgan Chase and Goldman Sachs are already increasing the amount of high-risk investments that they are making. This news caused many investors to withdraw funds from stock markets and cash accounts and shift into certified gold coins and other safe haven assets.
Gold is showing signs of life this morning, registering a spot price of $1018 on Wednesday morning. Analysts at the Certified Gold Exchange projected last week that gold could drop below $1000 before making a push to levels above $1010, and experts such as Walter Murphy at Merrill Lynch believe that gold could break record high prices before the holiday season begins.
Senior Staff Writer – Certified Gold Exchange
US Gold Market